Chemical
Punjab Government calls EOI for divestment of Punjab Alkalies
The company, a major manufacturer of caustic soda and liquid chlorine, has been incurring heavy losses since 2009-10, with its net worth going in the red.
- By Pravin Prashant
| July 24, 2020
The Directorate of Disinvestment, Government of Punjab has issued a Global invitation for "Expression of Interest" (EOI) on 24.07.2020 for the strategic disinvestment of Punjab State Industrial Development Corporation Limited's entire equity shareholding of 33.49% in Punjab Alkalies & Chemicals Limited.
Currently, Punjab State Industrial Development Corporation is the promoter of the company. The public holds 66.51 per cent stake; this includes 45 high net worth individuals holding 35.26 per cent stake. About 18,600 small investors hold 17.11 per cent stake in Punjab Alkalies.
The company, a major manufacturer of caustic soda and liquid chlorine, has been incurring heavy losses since 2009-10, with its net worth going in the red.
The Directorate of Disinvestment had earlier made four attempts for disinvestments of PSIDC’s equity stake in PACL in 2002-03, 2004-06, 2009-11 and 2012-15. However, none of these attempts could succeed.
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